i don't do the 3-4 month thing, yet i do apply for a new card roughly every month or two. if it's the same bank, then i will do both the same day, tho.

only one i have been denied is chase sapphire a couple days ago (CO, BA, and PC cards since Feb and two within past 3 months). called to move credit from one to the sapphire and was approved.

fwiw, i've never had to wait to apply for 3-4 cards on the same day. i usually just get them whenever i apply.

keeping them open, even if fee is waived, could backfire if you would be eligible for a new promotion. there are just certain cards i don't really want to keep open after a year, like CO and DL Gold and possibly HHonors Surpass.

Mercy. Once again, I bow down to you people. Way down.

To the professional churners, do most of your offers come in the US mail, or electronically? Just curious.

In the last year, the dh and I have been slammed with offers, mostly by mail. Sometimes the box is stuffed. It's almost too much to get my mind around. But we have begun to cherry pick the airline offers. Not sure what is driving all the offers.

Most of the time, the offers sent in the mail or by email to you directly are not the best offers out there. Keeping an eye on FlyerTalk, you'll regularly see postings about the newest offers available. Some of them are specifically targeted, with no workaround, but most are available generally. Don't ignore what comes in the mail; just use FT as another resource to compare the offers you receive directly with the offers discussed here.

The credit card companies are making all these offers because for the past three years, the consumer credit market has mostly been paying down debt incurred over the boom years rather than building up new debt and opening new cards. The credit card companies have found mile and point bonus offers a powerful incentive for a lot of folks. And most folks on FT, being savvy and in relatively good credit shape, can take advantage of the largesse without sinking themselves into huge debt. And, because to this point, it doesn't appear credit card companies are completely willing to deny credit applications made by churners (there's been some retraction but not a complete course of denial), it's very possible to accumulate a number of cards with great signup bonuses.

An internet resource, if you want to know more: http://www.frugaltravelguy.com/. There are others, but FTG has been at it for awhile and has funded a lot of travel on credit card offers.

No, I don't think you're argumentative, and I like the question!

Yes, I do feel that having too many open credit cards with a bank will hurt your likelihood of getting approved for future cards with that bank. That's because the banks exposure to you is already large, and they may not want the additional lending risk.

I also close accounts if the retention bonus doesn't cover the annual fee. So if I get 2,000 AA miles for not closing my AA account, but have to pay an annual fee of $85, I will close the account.

That results in a lot fewer open cards than I would otherwise have.

Here's my experience so far:

Chase - I haven't been allowed to have more than 5 cards with them. Since most of their reward cards have an annual fee, I either keep the card for ~10 months and then cancel, or I cancel when I am denied another Chase card and want to get approved.

I don't ride very hard with Chase (perhaps 4 new cards a year) because they are cracking down on frequent applications! My last chat with a chase lending analyst was more like an inquisition, but I did get the card approved.

Citibank - Their retention bonuses are weak and I usually wait until the bonus hits my account and then cancel the card. This automatically limits the number of open accounts. I think I've had 6 open accounts with them at one time.

Bank of America - 2 of my oldest cards are with BOA, as are some of the newer cards. I have 4 open BOA cards and still get approved for cards. Of course, there will be a limit, but I'm trying to see what that limit is for me.

American Express - I haven't got more than 2 cards with them at any time.

As others have suggested, this is not an exact science. Most results will vary from individual to individual, and you have to determine what level of risk is agreeable to you.
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Million Mile Secrets Big Travel. Small Money.

I recently applied for the Surpass card. Evidently they have already begun to consider individual income and not household income. I stay at home. When asked my income I was not prepared..Needless to say I was denied. Never been denied a credit card before.

How will this affect me? My credit score? Ability to apply for other cards? Ability to apply for Amex cards? Any information or wisdom would be appreciated. I'm freaking out!

Relax! The only affect it will have on your credit score is that there will be 1 inquiry on your report. That's it. The only people who will know that you were denied is you and Amex (Surpass). Your denial is not part of your credit history, only the inquiry is. And an inquiry typically only lowers your score by 4 to 5 points. No big deal.

Consider it a learning experience, in that the next time you apply for a card, you'll be better prepared to have answers to some of the more common questions you might be asked.

One thing I'm curious about, though: stay at home spouses usually get to have household incomes considered. Did you apply for a business Surpass card?

To my knowledge there is no business version of this card.

Thank you very much. I just visited your blog and I�m about to follow your suggestion and send another secure message to AmEx in an attempt to get a few more points for my 3 month old SPG account. I sent a message a couple of weeks ago when the new offer was by invitation only. Now that it�s available to all I�ll give it another try, or perhaps 3 or 4 tries as you suggested. The worst they can do is say no and sometimes I think they say yes just to get you to go away!

BTW, as a data point, just a few months ago I had 4 different AmEx card account open at one time (Hilton, Gold Rewards, Delta Gold, SPG). The Hilton card had been open for open for a couple of years. I received a Delta offer in the mail and applied by phone, approved immediately. 2 months later I received a Gold Rewards offer in the mail and applied on line again with immediate approval. 4 months later I applied for SPG and was approved. I did not have to move any credit limits around. However they were more difficult regarding repeat bonuses. I did not receive the Delta and SPG bonuses (both of which I had received 1-2 years earlier) automatically and I wrote to them before I received the bonuses this time around.

I thought I read in another thread that you are new to blogging. Best wishes to you for ongoing success. Thanks again.

It was a personal card. Below I've quoted the new rule. Companies don't have to comply until Oct. 1, but obviously some have begun.

"The Federal Reserve on March 18 told credit card companies that they no longer can consider household income when assessing the creditworthiness of an individual who applies for his or her own card. Under the rule, only an individual's own salary or other income -- rather than combined household income -- can be considered.

One major effect of the new regulation: Stay-at-home moms (or dads) without significant outside income no longer will be able to open their own credit card accounts -- and establish their own credit histories to build their credit scores. Compliance with the rule is mandatory by Oct. 1, 2011, though credit card companies can begin operating under it immediately."
From creditcards.com

Yikes. I just assumed the credit card companies would avoid adhering to that rule until the last possible moment.

I wonder what political pressure was behind that particular piece of legislation. Seems to me that, long term, it's only going to cause more problems than it solves.

How so? It makes the person who earns the income responsible for the debt.

Because at some point down the line, there will be many, many stay at home moms and dads who will have no means with which to build their own individual credit histories. When those people become divorced or widowed (or whatever circumstance might befall them), they will be woefully unprepared to conduct their daily financial chores.

On the one hand, I can see the sense of making the one with the income be responsible for the debt. But on the other hand, there are scores of traditional family units where one spouse raises the kids full time. If those households pay their bills on time and manage their credit wisely, does it not reflect on both of them as partners? Doesn't the stay at home spouse get any credit for running a household with some financial discipline?

Thanks for the reassurance thegasguru. I was feeling a bit gun shy about applying for other cards. However, I am happy to report that I was approved for two different cards tonight. Gotta love the support on FlyerTalk.

w00t!!

The purpose of this rule appears to be to keep card companies from handing out cards to folks who can't pay the bill. http://www.federalreserve.gov/newsev.../20110318b.htm Not such a bad thing.

And, note that it will likely have close to no effect in community property states.